Grade 4 Business Concepts Quiz
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Questions and Answers

Which of the following is NOT a step involved in identifying a business opportunity?

  • Conducting market research
  • Creating a business plan (correct)
  • Analyzing competitors
  • Identifying customer needs and wants

    • What is the key role or function of a business?

  • To provide goods and services (correct)
  • To create jobs
  • To make a profit
  • To contribute to the economy

    • Which of the following is an example of a business that provides goods and services in the community?

  • Park
  • Fire station
  • Hospital (correct)
  • Public library

    • What is the difference between goods and services?

    <p>Goods are tangible products, while services are intangible actions (D)</p> Signup and view all the answers

    Which of the following is NOT a source of capital to operate a business?

    <p>Donations from the government (A)</p> Signup and view all the answers

    Which of the following is NOT a step involved in identifying a business opportunity?

    <p>Developing a business plan (C)</p> Signup and view all the answers

    Which of the following is an example of a business that provides goods and services in the community?

    <p>A hair salon (D)</p> Signup and view all the answers

    What is the key role or function of a business?

    <p>To generate profit (D)</p> Signup and view all the answers

    What is the difference between goods and services?

    <p>Goods are physical products, while services are intangible actions (B)</p> Signup and view all the answers

    Which of the following is NOT a source of capital to operate a business?

    <p>Charitable donations (C)</p> Signup and view all the answers

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